Note 6 - Other Real Estate Investments

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Other Real Estate Investments and Other Assets [Text Block]

6.

Other Real Estate Investments

The Company has provided capital to owners and developers of real estate properties through its Preferred Equity Program. The Company’s maximum exposure to losses associated with its preferred equity investments is primarily limited to its net investment. As of

March 31, 2019,

the Company’s net investment under the Preferred Equity Program was

$186.6

million relating to

285

properties, including

273

net leased properties.  During the

three

months ended

March 31, 2019,

the Company recognized income of

$6.5

million from its preferred equity investments, including

$1.0

million in profit participation earned from a capital transaction. During the

three

months ended

March 31, 2018,

the Company recognized income of

$10.0

million from its preferred equity investments, including

$4.7

million in profit participation earned from

two

capital transactions. These amounts are included in Equity in income of other real estate investments, net on the Company’s Condensed Consolidated Statements of Income.